Mobile phone accessories market to reach $255 million by 2023

According to a new report by Allied Market Research (www.alliedmarketresearch.com), the global mobile phone accessories market was valued at $217,278 million in 2016, and is projected to reach at $255,149 million by 2023, growing at a CAGR [compound annual growth rate] of 2.3% from 2017 to 2023.

In 2016, the headphones type segment dominated the market, in terms of revenue, due to the strengthening economic condition and government initiatives to boost and support digital infrastructure, which further influences the mobile phone penetration across the market. This, in result creates positive impact on the usage of headphones, according to Allied Market Research.

Asia-Pacific was the highest revenue contributor to the global mobile phone accessories market in 2016, accounting for around 46.50% share, due to the rapid technological advancements and increase in the adoption of smartphones.